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Latest Cases Home > Latest Court: income tax appellate tribunal itat west bengal Page 6 of about 59 results (0.155 seconds)

Feb 28 1997 (TRI)

Modern Construction Development Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

1. This is an appeal filed at the instance of the assessee-firm and it relates to the assessment year 1991-92.2. As per the revised grounds of appeal, assessee raised three grounds which, in substance, relate to only one issue i.e., with regard to the justification in adding a sum of Rs. 3,51,877 under the head 'Income from other sources'.3. Brief facts in this regard are as under : By virtue of an agreement between Burdwan Municipality and the assessee, construction of a market complex known as 'Fancy Market Complex' at Tinkonia, G.T. Road, was undertaken by the assessee. As per the Balance-sheet of the assessee-firm, in the accounting year, relevant to the assessment year 1991-92, a sum of Rs. 3,04,570 was shown as the construction expenditure during that period. In the course of framing an assessment, Assessing Officer referred the matter to the valuation officer. As per the report of the Dist. valuation officer (DVO), the amount invested during the year was estimated at Rs. 6,56,4...

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Dec 31 1996 (TRI)

Deputy Commissioner of Vs. Machino Techno Sales Pvt. Ltd.

Court : Income Tax Appellate Tribunal ITAT West Bengal

Reported in : (2000)242ITR17Cal

1. This appeal is instituted by the Revenue against the order of the Commissioner of Income-tax (Appeals) for the assessment year 1986-87 and the only ground raised therein is that the Commissioner of Income-tax (Appeals) erred in vacating the order imposing a penalty of Rs. 1,00,000 under section 271B of the Income-tax Act, 1961, holding that the provisions of section 44AB are complied with by the filing of provisional audit report dated July 30, 1986.2. During the assessment proceedings, penalty proceedings under section 271B were initiated and thereafter a show-cause notice was issued to the assessee. In response to that, the assessee submitted that they have obtained the audit report as required under section 44AB of the Income-tax Act, 1961, on July 30, 1986, i.e., within the time limit. It was also explained that the statutory audit could not be completed within the time as voluminous work was involved and bank statement was not received in time. On verification the Income-tax O...

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Dec 31 1996 (TRI)

Amritlal Agarwal Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

1. These appeals have been instituted by the assessee against the orders of the CIT(A) for the asst. yr. 1981-82 on different grounds.2. The appeals in ITA Nos. 551 & 552 (Cal) of 1990 were decided earlier by the Tribunal, B-Bench, Calcutta, vide order dt. 15th March, 1994 but when the assessee filed Misc. Appln. Nos. 60 & 61 (Cal) of 1994 in ITA Nos. 551 & 552 (Cal) of 1990, the orders of the Tribunal were recalled vide order in Misc. Appln. Nos. 60 & 61 (Cal) of 1994 in ITA Nos. 551 & 552 (Cal) of 1990 for the asst. yr. 1981-82 dt. 28th December, 1994.They are thus recalled appeals pending before us and the appeal in ITA No. 3912 (Cal) of 1992 is fresh one.3. This is a very peculiar case and the chronological history of the case with facts in brief is that in this case a search and seizure operation took place in the residential premises of the assessee on 25th May, 1981 and amongst others a bunch of loose papers marked as BM-5 was seized vide Annexure-"BM" Panch...

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Nov 29 1996 (TRI)

Ashoke Kumar Parasramka Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT West Bengal

1. This appeal by the assessee is directed against the order passed by the CIT under s. 263 of the IT Act on 29th March, 1996.2. In the assessment made under s. 143(3) on 29th January, 1996, the ITO referred to the assessee's explanation with regard to the speculative transactions in shares. He also referred to the statement of speculation profits/losses in shares during the period from 1st April, 1992, to 31st March, 1993, which was filed by the assessee in response to his enquiry. It has to be stated here that there was a search in the premises of the assessee wherein certain papers were seized. One such seized document is referred to as AP-2. This paper showed details of certain shares purchased and sold by the assessee as well as family members. It also showed certain other share transactions in shares between the assessee and Magnum Investments of Old China Bazar Street, Calcutta. By letter dt. 9th October, 1995, the AO called upon the assessee to explain the source of investment...

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Nov 05 1996 (TRI)

Babhnan Sugar Mills Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT West Bengal

1. This appeal by the assessee relates to the asst. yr. 1993-94 for which the accounting year ended on 31st March, 1993. The assessee is a public limited company engaged, inter alia, in the business of manufacture and sale of sugar. In the assessment proceedings, it claimed exemption from income-tax in respect of a sum of Rs. 1,97,78,396, which represented the excess price realised on levy sugar sold in the market as free sale sugar under the Sugar Incentive Scheme formulated by the Govt. of India. The claim was negatived by the ITO.2. On appeal it was pointed out to the CIT(A) that the matter was covered in favour of the assessee by the order of the Tribunal, dt.14th May, 1992, for the asst. yrs. 1986-87 and 1987-88 in the case of Balarampur Chini Mills Ltd., with which the assessee-company had since merged. It was further pointed out that for the asst. yrs. 1991-92 and 1992-93, in the assessee's own case, the same CIT(A) had decided the matter in favour of the assessee.3. The CIT(A)...

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Jul 23 1996 (TRI)

Washabarie Tea Co. (P) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

1. These appeals are instituted by the assessee against the order of the CIT(A) for the asst. yrs. 1987-88 and 1989-90. As both the appeals are heard together they are disposed of together for the sake of convenience.In this appeal the assessee has raised the ground that the CIT(A) erred in rejecting the claim of the assessee denying liability to pay interest under s. 215 on the ground that there is no mistake apparent from the record without assigning any valid reason.3. Briefly stated, the facts of this case are that in the assessment order the AO ordered "charge interest if any". In the demand notice the demand for interest under s. 215 of the Act was raised and served on the assessee. The assessee filed the appeal before the CIT(A) on the ground that the assessee denies its liability for payment of any such interest and hence the impugned assessment order is erroneous. While deciding the ground regarding charging of interest under s. 215 the CIT(A) held that this is consequential ...

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Mar 29 1996 (TRI)

Woodcraft Products Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT West Bengal

1. The assessee is a company and the proceedings relate to its assessment for the assessment year 1974-75. During the previous year, the assessee donated a sum of Rs. 1,00,000 to a trust known as "Vishwamangal Trust" (hereinafter referred to as "the trust". Deduction under section 80G of the Income tax Act, 1961 ("the Act"), was claimed in respect there of and allowed by the ITO while completing the assessment under section 143(3), read with section 144B, of the Act.Subsequently, the Commissioner, after allowing the assessee an opportunity of being heard, passed an order under section 263 of the Act, inter alia, directing the ITO to withdraw the deduction granted to the assessee under section 80G in respect of the aforesaid donation of Rs. 1,00,000 to the trust.2. Aggrieved by the aforesaid order of the Commissioner, the assessee has come up in appeal. There are a number of grounds in the appeal memo, particularly, against the other directions given by the Commissioner to the ITO. How...

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Feb 16 1996 (TRI)

Sibonarayan Patro and Bros. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT West Bengal

1. These three appeals are filed by the assessee against the common order of the CIT(A), Orissa, Cuttack, dt. 30th Sept., 1994, confirming levy of penalty under s. 271B of the IT Act, 1961 for the asst. yrs.1986-87 to 1988-89.2. The assessee is a registered partnership firm. For the years under consideration, the gross turnover of the assessee, who is dealing in agency goods, exceeded Rs. 40 lakhs and thus the provisions of s. 44AB of the IT Act are applicable, whereby the audit report has to be obtained in the prescribed form on or before 31st day of July of the relevant assessment year. However, the audit reports for all the three years were obtained long after the due date. The details which are material for the disposal of these appeals are as under : audit report 31.7.86 31.7.87 31.7.88(b) Date on which audit report was obtained 3.8.88 25.8.88 7.10.88(c) Date on which return of income filed 3.8.88 26.8.88 11.10.88(d) Date of completion of assessment 31.1.89 31.1.89 31.1.89(e) Dat...

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Jun 09 1994 (TRI)

Jaldacca Tea Plantations Private Vs. State of West Bengal and ors.

Court : Income Tax Appellate Tribunal ITAT West Bengal

1. The propriety of the requirement for deposit of 50 per cent. of assessed tax for preferring an appeal against an order of assessment under the Bengal Agricultural Income-tax Act, 1944 (hereinafter referred to as "the Act" for the sake of convenience), is under challenge in this application under Section 8 of the West Bengal Taxation Tribunal Act, 1987, which is in the nature of a writ petition under Article 226 of the Constitution of India.2. The case of the applicants is that the applicant No. 1, Jaldacca Tea Plantations Private Limited, is a private limited company. It is the proprietor of Jaldacca Altadanga Tea Estate in the district of Jalpaiguri. In that tea estate, applicant No. 1 grows and manufactures tea and sells it in the market. On or about March 5, 1992, applicant No. 1 furnished a return before respondent No. 4, the Agricultural Income-tax Officer, Jalpaiguri Range, for Rs. 1,10,360 for the period ended December 31, 1984, relating to the agricultural income-tax of the...

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